Standigm Inc. ("Standigm"), the leading workflow artificial intelligence (AI) drug discovery company, announced today that they have secured a $10 million investment from Pavilion Capital, a Singapore-based investment institution. Standigm states that the investment will be used for the clinical research of AI-driven drug compounds to strengthen the company's competitiveness in the global market.
Pavilion Capital focuses on private equity and venture capital funds and direct investments in companies that ride on the growth and transformation of the North Asia and Southeast Asia economies. It pursues investments across different sectors, particularly in innovative technology and healthcare.
"I was impressed by the deep understanding in AI-based drug discovery that Pavilion Capital showed during the assessment process," said Jinhan Kim, co-founder and CEO of Standigm, adding, "I thank Pavilion Capital for their support to further strengthen Standigm's specialized workflow AI technology in developing first-in-class drug compounds. This investment will drive us towards the many trade opportunities to introduce our assets to the global market."
An official of NH Investment & Securities, who has been in charge of Standigm's IPO since March last year, said, "Investment from Pavilion Capital, which has had successful investment experiences in global AI drug discovery companies, means that Standigm is being recognized globally for its excellent and unique AI technology encompassing the entire drug discovery process and its growth potential," adding that, "With this investment, we will make the best efforts to achieve a successful IPO of Standigm."
Meanwhile, Standigm has recently completed a series of investments from SK Chemicals and Pavilion Capital after its Pre-IPO funding in March, confirming high expectations for its successful IPO.